Shares in Walgreens Boots Alliance, Inc. (Nasdaq: WBA) are surging this morning after the company reported its first quarter fiscal 2025 results. As of the time of this writing, WBA shares are currently up over 25% to $11.53 per share. Thats their highest level since August 2024.Heres what you need to know about Walgreens Q1 and stock surge.Walgreens beats on revenue and earnings per shareIn Q1, Walgreens beat investor expectations on two important fronts: earnings per share (EPS) and revenue. The company had a Q1 2025 adjusted EPS of 51 cents and revenue of $39.46 billion. That contrasts with an EPS of 37 cents and revenue of $37.36 billion that many analysts expected, notes CNBC.While Walgreens EPS and revenue were both lower than the year-ago quarter, the companys Q1 beat of analyst expectations seems to have given investors hope that it is turning its fortunes around.Walgreens has been trying to reverse its fortunes as it has faced increased challenges in the past year, including inflationary pressures that have led to consumers being more cautious about their discretionary spending. The company has also faced falling reimbursement rates for prescription drugs.However, while the company managed to beat investor expectations on EPS and revenue, the latter of which was up 7.5% year-over-year, its adjusted EPS was still lower than the EPS of 66 cents in the quarter a year earlier. The company also had a loss per share of 31 cents for Q1 2025thats versus a loss per share of just 8 cents in the quarter a year earlier.The company also reported a Q1 operating loss of $245 million compared to an operating loss of $39 million in the quarter a year earlier.Walgreens closing stores contributed to operating lossWalgreens $245 million operating loss was partially the result of its optimization plan that the company announced last year, which will see it shutter 1,200 of its 8,500 locations in America over the next several years. As Fast Company previously reported, the company will shut 1,200 stores by 2027, with 500 of those stores to be closed in 2025 alone.The closures are an effort to optimize [the companys] footprint and close underperforming stores, primarily in the U.S., to align with evolving demographic trends, Walgreens said in an SEC filing at the time, as well as an effort to respond more effectively to shifts in consumer behavior and buying preferences.Our first quarter results reflect our disciplined execution against our 2025 priorities: stabilizing the retail pharmacy by optimizing our footprint, controlling operating costs, improving cash flow, and continuing to address reimbursement models, Walgreens CEO Tim Wentworth said in a prepared statement. While our turnaround will take time, our early progress reinforces our belief in a sustainable, retail pharmacy-led operating model.Walgreens is far from the only pharmacy chain facing economic hardships and store closures. Other large pharmacy chains, including CVS and Rite Aid, have struggled with decreased profits as consumers turn to alternate online venues for their prescription needs, such as Amazon.A rough year for Walgreens stockDespite todays stock price surge, WBA shares have had a horrible past 12 months. During that time, Walgreens Boots Alliance shares have fallen 54%. Over the past five years, WBA shares are down 79%.What investors are hopeful forand even optimistic about, judging by todays double-digit stock price surgeis that the worst of Walgreens struggles may be behind the iconic pharmacy chain.Whether that is actually the case remains to be seen.